Gold Outlook 2021: Could The Metal's Price Rise Further?

Gold prices in India surpassed Rs 57,000 per 10 grams for the first time ever in August of this year after US spot gold hit an all-time high of $2,072.4951 per ounce. The surge in 2020 was due to heightened economic uncertainties after the COVID-19 outbreak that pushed major economies, including India, into a technical recession.

Unprecedented monetary and fiscal stimulus announced this year to combat the impact of coronavirus and a sliding dollar index, supported the precious metal at lower levels.

Rates are now off the all-time highs, and analysts from reputed brokerages have published their outlook on the metal for the upcoming year 2021.

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(With inputs from agencies)

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